Belgium Draws €113 Billion in Orders for New 30-Year Bond

Belgium raised 6 billion euros ($7.09 billion) on Wednesday through a new 30-year government bond that drew more than 113 billion euros in orders. The issuance, maturing in June 2056, underscores a high appetite for long-dated sovereign debt as institutional investors move to lock in yields.

February 4, 2026, 06:02 PM 0 0

The new obligation, known as an OLO, carries a 4.35% coupon and was priced at 99.938 to yield 4.355%. According to a joint lead manager, the pricing represents a spread of 4 basis points above the yield of the existing June 2055 OLO. The transaction allowed the Belgian Treasury to secure long-term funding at a time of significant market liquidity.

Record Interest in Ultra-Long Debt

Investor demand for the June 2056 bond reached a massive 113 billion euros, a figure that includes 3.45 billion euros in demand from the lead managers. This level of oversubscription highlights the market's confidence in Belgian sovereign credit and the broader demand for high-quality euro-denominated assets. The final size of the issuance was capped at 6 billion euros despite the record-breaking orderbook.

A syndicate of major international banks managed the sale, ensuring broad distribution across global institutional portfolios. The joint lead managers for the transaction included: